Qualcomm's stock has surged over 12% following rumors of a partnership with OpenAI to develop smartphone processors, coinciding with the company's announcement of better-than-expected Q2 revenues of $10.60 billion. This upswing comes even as Bank of America reinstated an 'Underperform' rating, reflecting caution in the face of a 7% year-over-year decline in non-GAAP earnings. Despite the financial pressures, Qualcomm continues to emphasize its role in the AI market, returning $3.7 billion to stockholders and projecting future revenues between $9.2 billion and $11 billion.
“[QCOM] | 148.85 | +11.12% | 29.45M |”
“Analysts at Bank of America reinstated coverage of Qualcomm Inc (NASDAQ:QCOM, XETRA:QCI) on Tuesday with an ‘Underperform' rating and a $145 price target.”
“Rumors of a Qualcomm-OpenAI smartphone partnership sent Qualcomm stock soaring on Monday.”
“Qualcomm 149.32 +0.32%”
“Qualcomm · is working with · OpenAI and MediaTek · to develop smartphone processors”
“Qualcomm · is working with · OpenAI and MediaTek · to develop smartphone processors”
“Qualcomm · is · working with · OpenAI and Taiwan's MediaTek”
“Qualcomm · is · up · +3%”
“Qualcomm · surged · stock price · more than 12%”
“OpenAI · is working with · Qualcomm · to develop smartphone processors”
“Qualcomm Inc. · is expanding into · data center market”
“Qualcomm · highlighted · agentic AI · as a key growth driver”
